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**20,168,692 Dogecoin (DOGE) Liquidated in 24 Hours, What Happened?**
The cryptocurrency market has been experiencing significant price fluctuations over the past few days, with many assets undergoing massive liquidations. In a recent development, it has been reported that a staggering **$20,168,692** worth of Dogecoin (DOGE) was liquidated in just 24 hours.
According to data from various sources, this massive liquidation is largely attributed to DOGE mirroring Bitcoin’s price surge. Despite the significant appreciation in value, DOGE has failed to break through its resistance level at $0.408. This failure may have led many traders to rush for exits, resulting in a high number of liquidations.
Notably, the Dogecoin (DOGE) market is known for its volatility and high-risk nature, which may have contributed significantly to this massive liquidation event. It’s worth noting that DOGE has seen a significant increase in value over the past few days, with some traders possibly taking profits or adjusting their positions.
In comparison to Bitcoin, Ethereum recorded the largest liquidation among altcoins, with **$46.72 million** worth of assets being liquidated. Long-position traders suffered losses totaling **$28.05 million**, while short traders logged a staggering **$18.67 million** in losses.
The latest development highlights the importance of risk management and careful portfolio adjustments in today’s highly volatile crypto market. It is crucial for investors to stay informed about market trends and adjust their positions accordingly to minimize potential losses.
About the author
Godfrey Benjamin is an experienced crypto journalist whose main goal is to educate everyone around him about the prospects of Web 3.
Source: u.today
